President Obama’s Jobs Package is Certainly the Please Re-Elect Me Package

One day after President Obama’s speech to Congress, and to the nation about his much anticipated jobs package, the stock exchange found itself losing hundreds of points. Even though the stock market’s unfavorable response has more to do with the general global economy, one can not help but to feel the President Obama’s address led to the poor trading session. And although most economic experts are split at the impact this jobs package may have on our economy, most of them pretty much recognize it is too little and far too late.

Unlike prior economic recessions, our economic system is no longer fully within our influence. As the countries of the world became more open, they also grew to be more susceptible to the political deficiencies that have materialized internationally. This is the reason why the financial crisis in Greece, and other select European countries, has afflicted our economy and threatens to pull down all nations.

Aside from the obvious political mishaps occurring outside of our nation, consumers allegedly are responsible for seventy percent of our nation’s economic activity. That’s a very large share of the economic output. Regrettably, what consumers are now consuming is generally produced in a different country. This has substantially diminished the consumers influence on our own country since much of the money used on such goods simply goes to offshore corporations and benefits the United States very little.

Our nation’s jobless rate, that sits at 9.1%, is placing more pressure on the national budget. The effect such high unemployment has on our country is profound in reducing tax revenue and is placing stress on already inadequately funded government entitlement programs. Regrettably, many economists anticipate high unemployment to persist for many years. And with high rates of unemployment, many households are experiencing with a lack of funds to pay for basic bills and the loss of their employer paid health insurance plans.

After viewing the President’s speech about his much touted jobs strategy, I was left feeling let down. Most of what the president proposed will not return America’s economy to the state it was previously in. What the President’s jobs package seems to be is a concealed effort to alleviate the financial burden just long enough for the 2012 Presidential election. And the Republican’s response to the speech was more party line politics then anything else. At the pace things are proceeding, most taxpayers probably sense that there is no room for compromise. And even if compromises might be made, just how useful would this jobs package be at helping individuals simply get a job?

The way out of this financial crisis is rather obvious in my opinion. We need to backtrack our political missteps. We should reverse the damage that regulations have placed on businesses. We need to end President Obama’s and Bush’s tax cuts. And finally, we absolutely must restore our economic autonomy through swift action on our trade deficit by modifying trade agreements appropriately. Instead of racking up billions of dollars each month in trade deficits, we need trade agreements that balance trade to make sure that all nations reap the benefits of trading an equal dollar amount of goods. If we fail to immediately reverse the harm we’ve done to our own selves, our prolonged financial path downward is assured.

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